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Financial Aid

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In order to be considered for federal and state aid – and some scholarships – you must complete the Free Application for Federal Student Aid (FAFSA) each year. We encourage every eligible student to file a FASFA, regardless of whether you think you will qualify for any aid. The U.S. Department of Education administers the online FAFSA and millions of students complete the FAFSA each year.

FAFSA Tips

  • Remember to designate Penn College as the recipient of your FAFSA by using our federal school code: 003395.
  • We encourage you to complete the FAFSA as early as possible each year. The 2021-22 FAFSA needs completed for students starting or returning for Fall 2021 and/or Spring 2022.
  • The 2022-23 FAFSA can be filed as early as October 1 for students starting or returning for Summer or Fall 2022 and/or Spring 2023.
  • The Penn College priority submission deadline is March 1 each year.
  • You can submit your FAFSA via the myStudentAid mobile app
  • The 2021-22 FAFSA uses income from year 2019.
  • The 2022-23 FAFSA uses income from year 2020 rather than 2021.

Parent Information

Most students under the age of 24 will need to include information about their parent(s) on their FAFSA, even if they live separately or their parent(s) will not help them financially.
More information about dependent and independent students from Federal Student Aid.

What if your parents are divorced or separated or never married?
More information about which parent(s) to include from Federal Student Aid.

FSA ID

You and, if needed, a parent, sign your FAFSA electronically using the FSA ID. If you do not have a FSA ID, you (and parent) should each create one at least 1-3 weekdays before you start your FAFSA. Create an FSA ID.

IRS Data Retrieval Tool (DRT)

The IRS Data Retrieval Tool (DRT) embedded within the FAFSA transfers IRS income and tax information from a taxpayer’s IRS tax return directly to the FAFSA. We highly recommend students and parents use the DRT because it:

  • Simplifies your FAFSA completion process
  • Reduces the odds of error on your FAFSA
  • Reduces the likelihood that your FAFSA is selected for Federal Verification

Information about the IRS DRT on the FAFSA
What you need to complete your FAFSA.
Be sure to enable pop-ups on your browser.

Submit your FAFSA

Federal Verification

About 1 out of 5 students who submit a FAFSA are selected by the U.S. Department of Education for a process called Federal Verification.  The Financial Aid Office is here to assist you if you are selected.

Learn more about Federal Verification

Major Reduction in Family Income?

Some students and their families experienced a significant reduction in income from 2019 to 2020. As a result, the financial data on the 2021-22 FAFSA may not reflect your family’s recent or current financial situation. This could be because of a job loss, reduced wages, divorce, separation, or another reason.

If you're an accepted or current student and your family’s 2020 total income (both taxable and non-taxable) is significantly lower than it was in 2019, you may want to submit a Financial Hardship Notification form so we can better understand your circumstances to determine if a FAFSA adjustment is possible. Please contact us with any questions.

Submit Your Financial Hardship Notification

Learn More

Explore the links below for additional resources to help before and after completing your FAFSA.

Contact

Financial Aid

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